AsemconnectVietnam - Hang Xanh Auto Service Joint Stock Company (Haxaco, stock code HAX) has just announced its 2024 business results with positive growth in both revenue and profit, of which profit alone increased 4 times compared to 2023.

In the separate financial report for the fourth quarter of 2024, Haxaco's revenue reached VND992.4 billion, up 11% over the same period in 2023. Profit after tax in the fourth quarter of 2024 reached VND11.8 billion, down 14% over the same period.
Accumulated for the whole year of 2024, separate revenue reached VND3,127 billion, after-tax profit reached more than VND60.7 billion, increasing by 10% in revenue and 84% in after-tax profit compared to the same period in 2023.
Haxaco said that in the fourth quarter of 2024, separate revenue increased by 11% compared to the same period in 2023, achieving positive growth in the context of the economy and the automobile market facing many fluctuations. However, the Company's profit in the fourth quarter of 2024 decreased by 14% compared to the same period in 2023, mainly due to fierce competition among distributors in many aspects, including strong discount incentive programs to stimulate consumer demand.
However, thanks to the outstanding growth in the first 9 months of 2024 compared to the same period last year, Haxaco has completed the target for the whole year of 2024 with a profit after tax growth of 84% compared to 2023.
In the consolidated financial report, the Company recorded strong growth with revenue in the fourth quarter of 2024 reaching VND1,817 billion, an increase of 69% compared to the same period in 2023 and profit after tax reaching VND59.5 billion, an increase of 165% compared to the same period in 2023.
Explaining this positive business result, the leader of Haxaco Group said that the Company's net revenue in the fourth quarter increased sharply by 69% mainly due to the effective business operations of its subsidiaries during the period. This resulted in a 165% growth in accounting profit after corporate income tax compared to the same period in 2023.
By the end of 2024, Haxaco Group achieved VND5,513 billion in consolidated revenue and VND258.3 billion in consolidated pre-tax profit, with consolidated after-tax profit reaching more than VND203.5 billion, an increase of 38% in revenue and 449% in profit compared to 2023.
In 2024, Haxaco set a target of VND200 billion in pre-tax profit, with the achieved results, Haxaco exceeded the annual plan by 29%.
Sharing about the 2025 plan, Mr. Do Tien Dung, Chairman of the Board of Directors of Hang Xanh Auto Service Joint Stock Company (Haxaco) said that Haxaco pursues a stable and sustainable development strategy, while continuing to expand MG auto dealerships towards having 20 dealerships nationwide by 2025.
In 2025, Haxaco Group plans to list its subsidiary - PTM Auto Production - Trading and Service Joint Stock Company (PTM Company).
N.Nga
Source: VITIC/Tinnhanhchungkhoan